This broker has also been regulated by Belize Financial Service Commission (FSC) 000319/38.
Extensive Review
24option is a brokerage company offering CFD trading for global clients. More than just regular trading in the common MetaTrader platform, the company also provides more advanced trading in their intuitive trading platform. The web-based technology was previously operated as a binary options platform. But since their major change in 2017 to leave the binary options market, the platform was restructured to enable clients to manage their CFD trades.
In terms of trading safety, 24option guarantees its credibility with compliance to the Cyprus Securities and Exchange Commission (CySEC). The company behind 24option, Rodeler Limited, is a Cyprus Investment Firm, authorized and regulated by the CySEC with CIF license number 207/13.
24option's trading accounts are flexible, versatile, and are arranged to be the foundation of clients' trading. The broker offers 4 types of live accounts, as well as a demo account for beginners or new clients who feel the need to familiarize themselves with 24option's proprietary platform before diving into the live account .
24option puts great importance on trading education for every client. It presents a package of various trading materials in every account, adjusted by clients' level of trading that is previously measured carefully and realized into the differing trading specifications. Furthermore, 24option offers frequent free withdrawals for users in certain account types.
The leverage is not provided following the various types of accounts. When trading in 24option, traders will find that the leverage is divided based on the types of clients: retail or professional. For retail clients, leverage is only up to 1:30, while professional clients can enjoy leverage as high as 1:400.
This condition adheres to CySEC's standard as one of the regulations included in the Euro area. Previously, European regulation for leverage in CFD trading has been radically changed from allowing leverage as high as 1:500 to limit it at 1:30 as the maximum standard.
Deposit and withdrawal methods in 24option are enabled in several ways, including bank transfer, credit card, and e-payment (Skrill, Neteller, WebMoney, Perfect Money, PayPal, and others).
Clients need to pay attention to the withdrawal fees, as 24option charges them differently based on the methods used. For example, bank transfers are charged with a $30 commission, while WebMoney withdrawals are charged with 0.9% from the amount transferred.
To conclude, 24option is a reliable CFD broker for its licensed trading services and intuitive platform. Its trading condition is quite accommodative for clients with mid to upper level of skills in financial trading. However, it should be noted that 24option has no guarantee on STP or ECN execution, and does not provide low spreads in the zero range.